In this paper, chaotic dynamics of a mixed Rayleigh–Liénard oscillator driven by parametric periodic damping and external excitations is investigated analytically and numerically. The equilibrium points and their stability evolutions are analytically analyzed, and the transitions of dynamical behaviors are explored in detail. Furthermore, from the Melnikov method, the analytical criterion for the appearance of the homoclinic chaos is derived. Analytical prediction is tested against numerical simulations based on the basin of attraction of initial conditions. As a result, it is found that for
ω
=
ν
, the chaotic region decreases and disappears when the amplitude of the parametric periodic damping excitation increases. Moreover, increasing of
F
1
and
F
0
provokes an erosion of the basin of attraction and a modification of the geometrical shape of the chaotic attractors. For
ω
≠
ν
and
η
=
0.8
, the fractality of the basin of attraction increases as the amplitude of the external periodic excitation and constant term increase. Bifurcation structures of our system are performed through the fourth-order Runge–Kutta ode 45 algorithm. It is found that the system displays a remarkable route to chaos. It is also found that the system exhibits monostable and bistable oscillations as well as the phenomenon of coexistence of attractors.